PI Ratings

PI Rating: Banks

As a part of compliance requirement of Bangladesh Bank, CRISL has released the ratings of the following banks on the basis of the Public Information (PI) as published by the banks in its Annual Report, Annual financial statements upto December 31, 2016 and other available published information. CRISL conducted PI ratings of 24 banks. Out of them ratings of 16 banks ( 2 SCB , 2 FCBs & 12 PCB) have been reaffirmed or newly assigned; rating of one bank has been upgraded and ratings of 7 banks have been downgraded.
The above mentioned ratings lack some relevant quantitative as well as qualitative information which might have impact on the ratings.

CRISL released following PI ratings

Stable & New Rating

Sector Name PI Rating 2016
Bank Name of Bank Long term Short term
list_19  State-owned Commercial Bank
  • Janata Bank Limited
(PI) BBB (PI) ST3
  • Bangladesh Development Bank Limited*
(PI) BBB (PI) ST3
list_19  Foreign Commercial Bank
  • State Bank of India
(PI) A+ (PI) ST-3
  • Bank Alfalah Limited*
(PI) A (PI) ST-3
list_19  Private Commercial Bank
  • Uttara Bank Limited
(PI) A (PI) ST-3
  • Dhaka Bank Limited
(PI) A+ (PI) ST3
  • BRAC Bank Limited
(PI) A+ (PI) ST3
  • Mercantile Bank Limited*
(PI) A+ (PI) ST3
  • The City Bank Limited
(PI) A+ (PI) ST3
  • NCC Bank Limited
(PI) A+ (PI) ST3
  • National Bank Limited*
(PI) A (PI) ST3
  • One Bank Limited
(PI) A+ ( PI )ST3
  • The Premier Bank Limited
(PI) A- (PI) ST3
  • Jamuna Bank Limited
(PI) A+ (PI) ST3
  • First Security Islami Bank Limited
(PI) A- (PI) ST3
  • IFIC Bank Limited
(PI) A+ (PI) ST3


* New Rating

The following rating has been upgraded:

Sector Name Name of the Company PI Rating
Long Term Short Term
Bank
Shahjalal Islami Bank Limited (PI) A+ (PI) ST-3

The following ratings have been downgraded:

Sector Name PI Rating 2016
Bank Name of Bank Long term Short term
list_19 State-owned Commercial Bank
  • Sonali Bank Limited
(PI) BBB- (PI) ST3
  • Rupali Bank Limited
(PI) BBB- (PI) ST4
  • Agrani Bank Limited
(PI) BBB- (PI) ST4
list_19 Private Commercial Bank
  • United Commercial Bank Limited
(PI) A (PI) ST-3
  • Pubali Bank Limited
(PI) A (PI) ST3
  • AB Bank Limited
(PI) A (PI) ST3
  • Social Islami Bank Limited
(PI) A (PI) ST3

 

PI Rating: Non-Life Insurance

As a part of compliance requirement of Bangladesh Bank, CRISL has released the ratings of the following non-life insurance companies on the basis of the Public Information (PI) as published by the companies in its Annual Report, Annual financial statements upto December 31, 2016 and other available published information. CRISL conducted PI rating of 15 Non-life insurance companies; out of them, ratings of 13 companies have been reaffirmed while ratings of two companies have been downgraded.
The above mentioned ratings lack some relevant quantitative as well as qualitative information which might have impact on the ratings.
CRISL released following PI ratings :

Sector Name Name of the Company   Claim Paying Ability (CPA) Rating
Non-life Insurance Agrani Insurance Company Ltd. (PI) A-
Asia Pacific Gen Insurance Co. Ltd. (PI) A-
Bangladesh General Insurance Co. Ltd. (PI) A
Eastern Insurance Company Ltd. (PI) A
Green Delta Insurance Co. Ltd. (PI) AA
Janata Insurance Company Ltd. (PI) BBB
Karnaphuli Insurance Company Ltd. (PI) A
Mercantile Insurance Company Ltd. (PI) A
Northern General Insurance Company Ltd. (PI) BBB+
Pragati Insurance Ltd. (PI) A+
Provati Insurance Company Ltd. (PI) BBB+
Republic Insurance Company Ltd. (PI) BBB+
Standard Insurance Ltd. (PI) BBB+

 

The following ratings have been downgraded:

Sector Name Name of the Company Claim Paying Ability (CPA) Rating
Non-life Insurance Global Insurance Ltd. (PI) BBB
Islami Insurance Bangladesh Ltd. (PI) BBB

PI Rating: Pharmaceuticals & Cement

As a part of compliance requirement of Bangladesh Bank, CRISL has released the ratings of the following Pharmaceuticals & Cement sector companies on the basis of the Public Information (PI) as published by the companies in its Annual Report, Annual financial statements upto FY2016 and other available published information. Ratings of all the companies have been reaffirmed.
The above mentioned ratings lack some relevant quantitative as well as qualitative information which might have impact on the ratings.
CRISL released following PI ratings:

Sector Name Name of the Company PI Rating
Long Term Short Term
Pharmaceuticals
The Ibn Sina Pharmaceutical Industry Ltd. (PI) A- (PI) ST-3
GlaxoSmithKline Bangladesh Limited (PI) A+ (PI) ST-3
Cement M.I. Cement Factory Limited (PI) A+ (PI) ST-3
HeidelbergCement Bangladesh Limited (PI) AA- (PI) ST-2
Lafarge Surma Cement Limited (PI) AA- (PI) ST-2